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Are EU budget deficits stationary?

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dc.creatorHolmes, Mark J.spa
dc.creatorOtero Cardona, Jesús Gilberto
dc.creatorPanagiotidis, Theodorespa
dc.date.accessioned2020-05-26T00:06:40Z
dc.date.available2020-05-26T00:06:40Z
dc.date.created2010spa
dc.description.abstractIn this paper, we test for the stationarity of European Union budget deficits over the period 1971-2006, using a panel of thirteen member countries. Our testing strategy addresses two key concerns with regard to unit root panel data testing, namely (1) the presence of cross-sectional dependence among the countries in the panel and (2) the identification of potential structural breaks that might have occurred at different points in time. To address these concerns, we employ an AR-based bootstrap approach that allows us to test the null hypothesis of joint stationarity with endogenously determined structural breaks. In contrast to the existing literature, we find that the EU countries considered are characterised by fiscal stationarity over the full sample period irrespective of us allowing for structural breaks. This conclusion also holds when analysing sub-periods based on before and after the Maastricht treaty. © Springer-Verlag 2009.eng
dc.format.mimetypeapplication/pdf
dc.identifier.doihttps://doi.org/10.1007/s00181-009-0289-3
dc.identifier.issn14358921
dc.identifier.issn03777332
dc.identifier.urihttps://repository.urosario.edu.co/handle/10336/23917
dc.language.isoengspa
dc.relation.citationEndPage778
dc.relation.citationIssueNo. 3
dc.relation.citationStartPage767
dc.relation.citationTitleEmpirical Economics
dc.relation.citationVolumeVol. 38
dc.relation.ispartofEmpirical Economics, ISSN:14358921, 03777332, Vol.38, No.3 (2010); pp. 767-778spa
dc.relation.urihttps://www.scopus.com/inward/record.uri?eid=2-s2.0-77951203873&doi=10.1007%2fs00181-009-0289-3&partnerID=40&md5=c36e791a44a949cfb409da27e0691cbaspa
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto Completo)spa
dc.source.instnameinstname:Universidad del Rosariospa
dc.source.reponamereponame:Repositorio Institucional EdocURspa
dc.subject.keywordBootstrappingspa
dc.subject.keywordBudget deficitspa
dc.subject.keywordEconomic structurespa
dc.subject.keywordEuropean unionspa
dc.subject.keywordFiscal policyspa
dc.subject.keywordHypothesis testingspa
dc.subject.keywordMaastricht treatyspa
dc.subject.keywordPanel dataspa
dc.subject.keywordEuropespa
dc.subject.keywordFiscal sustainabilityspa
dc.subject.keywordHeterogeneous dynamic panelsspa
dc.subject.keywordMean reversionspa
dc.subject.keywordPanel stationarity testspa
dc.titleAre EU budget deficits stationary?spa
dc.typearticleeng
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersion
dc.type.spaArtículospa
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